Bob Henderson, head of weather derivatives research at Element Re Capital Products, has left the firm and returned to JPMorgan. Henderson rejoined the firm in New York two weeks ago as v.p. focusing on market risk in equity derivatives, program trading and convertible bond and risk arbitrage. He was the global head of foreign exchange derivatives research prior to joining Element Re, according to a market official.
Henderson reports to Steven Miller, head of market risk for equity derivatives, interest rates and foreign exchange. Miller was out of the office for the week and could not be reached. Henderson is replacing Fawaz Habel, who has moved to JPMorgan's trading operation in Asia, where he is focusing on convertible bonds.
Element is currently working on filling the vacated slot, according to Lynda Clemmons, president. Henderson was a well-regarded weather player, said rivals, who added he was an important cog in the success of the Stamford, Conn.-based shop that launched in March 2000. He decided to re-join JPMorgan's market risk group because he feels it's a growing and exciting market. "It's a chance to get into a bigger thriving market," a firm official said.